Recurring Deposit is a product to provide a person with an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time.

Major Points, Features

✓ Monthly deposits of Minimum Rs.100/- and in multiples of Rs 10/- No maximum. ✓ Minimum period 12 months maximum 120 months. ✓ Rate of interest as applicable to Bank’s TDR / STDR for the period of the RD. ✓ Loan / Overdraft up to 90% available against the balance in RD account. ✓ TDS is applicable. ✓ Premature withdrawal allowed and

We show a complete breakup from 1 year to 10 years for general public & for senior citizen category. If a customer opting Recurring Deposit monthly amount ₹ 2000/- at the interest rate given by State Bank of India given below in the table. Now the customer has to check how much amount he/she will get on the maturity date.

RD Tenure

Annual Deposit Amount

Interest Rate for General

Maturity Amount

Interest Rate for Senior Citizen

Maturity Amount

1 Year (12 months)

₹24,000.00

7.25%

₹24,957.81

7.50%

₹24,991.38

2 Years (24 months)

₹48,000.00

7.50%

₹51,910.50

7.75%

₹52,046.53

3 Years (36 months)

₹72,000.00

7.00%

₹80,274.60

7.25%

₹80,589.62

4 Years (48 months)

₹96,000.00

7.00%

₹1,10,967.31

7.25%

₹1,11,550.95

5 years (60 months)

₹1,20,000.00

7.00%

₹1,43,865.58

7.25%

₹1,44,818.74

6 years (72 months)

₹1,44,000.00

7.00%

₹1,79,127.89

7.25%

₹1,80,564.82

7 Years (84 months)

₹1,68,000.00

7.00%

₹2,16,924.11

7.25%

₹2,18,973.81

8 Years (96 months)

₹1,92,000.00

7.00%

₹2,57,436.33

7.25%

₹2,60,244.07

9 Years (108 months)

₹2,16,000.00

7.00%

₹3,00,859.72

7.25%

₹3,04,588.76

10 Years (120 months)

₹2,40,000.00

7.00%

₹3,47,403.47

7.25%

₹3,52,236.92

PNB – PUNJAB NATIONAL BANK

✓ Individual (singly or jointly) with others. ✓ Minor who have attained the age of 10 years and above in his/her own name on giving proof of age. ✓ Minors below the age of 10 years under guardianship of Natural/legal guardian. ✓ Proprietorship/Partnership Firm, Commercial Organization, Company / Corporate Body ✓ Hindu Undivided Family ✓ Association, Club, Society, Trust or Religious/Charitable Educational Institutions, ✓ Municipality or Panchayat, Government or Quasi-Government body. ✓ Illiterate and blind persons can also open accounts. ✓ 100/- and in multiples thereof

ICICI BANK

Interest on the Recurring Deposit/s opened under this Program shall be credited/deposited in the Recurring Deposit Account/s at the end of each calendar quarter, at the applicable rates as communicated to the Customer/s at the time of opening of the Recurring Deposit/s. Such interest rates shall be in accordance with the RBI directives issued from time to time. For the Recurring Deposits which become overdue, the interest rate applicable shall be the savings account rate of interest. However, in each calendar quarter for the overdue Recurring Deposits, while the interest shall be credited at the applicable rates communicated to the Customer at the time of the opening of the Recurring Deposits, the excess interest credited during the overdue period shall be adjusted at the time of closure of the Recurring Deposits.

✓ The investment amount can vary from an amount as small as Rs. 1000 up to Rs. 14,99,900 per month. ✓ The tenure ranges from a minimum of 6 months to a maximum of 10 years. ✓ For an NRI customer, the minimum RD tenure is 12 months. ✓ You get to enjoy the interest rates of regular Fixed Deposits by investing a much smaller amount every month. ✓ The interest earned on your Recurring Deposit is TDS free. ✓ If you pay the monthly RD installment within 5 days of the installment due date, you will not be charged any penalty by the bank. These 5 days fall within the grace period facility provided by the bank. ✓ Once the installment amount has been fixed, it cannot be altered. ✓ In case there are more than two months of installments overdue, and you pay enough to cover just one installment, it will be directed towards the first/earliest month of overdue. ✓ Payment of a single installment cannot be divided into parts. ✓ The minimum lock-in period of an RD is one month. ✓ If you decide to close your RD prematurely within a period of a month, you will not be eligible to get the interest amount. Only the principal amount will be returned. ✓ Interest on RD is paid only on maturity of the same. ✓ Irrespective of overdue installments, an RD will mature and shall be due for repayment on the completion of the stipulated tenure. ✓ If the scheduled payment of installments is delayed, the maturity amount shall vary, as it will be subject to ✓ penal charges Penal charges are calculated on a 30/360 days basis. ✓ In the case of frequent failure to pay the monthly installments, the bank has every right to close the RD account. The interest rates applicable on such closed accounts will be at the discretion of the bank.

HDFC BANK RECURRING DEPOSITS INTEREST RATES June 2018

RD Period

Interest Rate (per annum)

**Senior Citizen Rates (per annum)

Effective From

6 Months

7.00%

7.50%

August 13, 2015

9 Months

7.25%

7.75%

August 13, 2015

12 Months

7.90%

8.40%

September 08, 2015

15 Months

7.65%

8.15%

September 08, 2015

24 Months

7.65%

8.15%

September 08, 2015

27 Months

7.65%

8.15%

November 21, 2015

36 Months

7.65%

8.15%

November 21, 2015

39 Months

7.65%

8.15%

September 08, 2015

48 Months

7.65%

8.15%

September 08, 2015

60 Months

7.65%

8.15%

September 08, 2015

90 Months

7.75%

8.25%

September 08, 2015

120 Months

7.50%

8.00%

September 08, 2015

BOB – BANK OF BARODA

A basic saving plan, which helps you regulate your savings and reap its benefits from time to time. Also, avail up to 95% of the deposit amount by way of loan/overdraft.

✓ Regularities savings by encouraging a saving habit.

✓ Loan/Overdraft facility up to 95% of the deposit amount.

✓ Provision for nomination.

IDBI BANK

IDBI Recurring deposit helps you to add your savings at your complete convenience. With your regular incomes, you can start saving any fixed amount from 100 to less than 1 crore every month. The amount as decided by you will be deducted every month from your savings account. Further, there is no Tax deducted at source on these deposits and also no charges for executing your standing instructions.

IDBI Bank Recurring Deposit Features

✓ Pre-planned saving for a future goal ✓ Bullet Regular savings for a certain period of time ✓ Bullet The period of deposit can be from 1 year to 10 years ✓ Bullet Deposit can be started with a minimum amount of Rs. 100

CORPORATION BANK

An ideal way to plan for the future needs. The best way to save a fixed sum every month for a fixed period and get a lump sum amount on maturity, along with interest rate payable for term deposit.

The rate of interest depends on the period of deposit, payable at the rate as decided by the Bank from time to time.

Interest is compounded on a quarterly basis, credited to the account at the end of every financial year and paid on maturity.

Penalty @ Rs. 1.50 per Rs. 100/- per month is applicable if any installment is not paid for the relevant month.